Tesla Already Building and Delivering Model Y

Tesla released 2019 fourth-quarter earnings and surpassed financial expectations on revenue and had $105 million in profit.

The biggest new news is that Tesla already building and delivering model Y cars.

Before Q3 2019, Tesla was talking about late 2020 and then updated it to mid-2020 in the Q3 call. Now Tesla announces that Model Y is here.

Tesla is adding new capacity in Fremont. By Mid-2020 they will have 500,000 model 3 and model Y capacity in Fremont.

Tesla should be comfortably growing the volume of car production by at least 50% per year for several years. Tesla also will be growing solar and storage by 50% this year.

They also indicated that Model Y will have 315 miles of range. This is higher than the 280-mile range that was the old target.

They have record Q4 storage deployment of 530 MW which was a 26% solar growth QoQ.

Due to strong initial customer response in China, Tesla’s goal is to increase Model 3 capacity even further using existing facilities.

They have already broken ground on the next phase of Gigafactory Shanghai. Given the popularity of the SUV vehicle segment, they are planning for Model Y capacity to be at least equivalent to Model 3 capacity.

Autopilot & Full Self Driving (FSD)

To date, Tesla vehicles have driven over 3 billion miles in Autopilot mode. As our fleet grows, Autopilot miles increase exponentially, adding yet more data to our neural net.

All Tesla vehicles with the FSD computer have been updated with new software that can better detect new details in their environments, allowing us to show various lane markings, traffic lights, stop signs, cones as well as other vehicles and road users. Understanding the environment around a Tesla is key to enabling our cars to react to traffic lights and stop signs and take intersections through city streets. They are currently validating this functionality before releasing to customers, and they look forward to its gradual deployment.

Vehicle Software

In Q4, Tesla launched premium vehicle connectivity in the US for $9.99 (plus tax) per month. This enables customers to stream music or videos, browse internet or see live traffic through an embedded connection.

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